Bank’s Routers Hacked To Steal $1 Million

By   ISBuzz Team
Writer , Information Security Buzz | Jul 20, 2018 07:15 am PST

The notorious hacker group, MoneyTaker, has stolen roughly $1 million from a Russian bank after breaching its network via an outdated router. Ken Hosac at Cradlepoint discussing how SDN can prevent this issue.

Ken Hosac, VP of IoT Strategy & Business Development at Cradlepoint:

“Software-defined Networking (SDN) enables IoT devices, such as routers, to be deployed on a completely separate network (virtually) that is invisible to the outside world.  Traditional networks utilise a “connect first, authenticate second” model that allows hackers to scan networks for devices and their ports using common hacking tools.  Those same hacking tools are then used to defeat the authentication.  A key benefit of SDN is the model of “authenticate first, connect second”.  These networks are completely invisible and inaccessible unless the organisation’s IoT devices are first properly authenticated.  This means that it is much more difficult for routers to be exploited by hackers.”

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